The Economy and Living Standards

Graeme Morrice Excerpts

Thursday 12th June 2014 Commons Chamber

[Graeme Morrice (Livingston) (Lab)]

The past four years have been a very tough time for a great number of my constituents and many other people across the country. Since the financial crisis of 2008 and the bold and decisive action taken by the previous Government to prevent the collapse of the banking system, the value of our economy, and with it the living standards of the majority of our fellow citizens, has fallen dramatically. Though some might attempt to point score over the causes of our economic situation, it is fundamental that Members recognise right from the start the very human cost of its consequences.

Whereas Government Members might wish to gloat over indications of some partial recovery, they either completely ignore or are simply too out of touch to recognise that the real value of wages has plummeted for most people while their cost of living has gone through the roof. When Shelter estimates that 4 million families are only one month’s pay packet away from poverty and not being able to keep a roof over their heads, the cost of living crisis that has taken hold in Britain today should be of real concern to us all.

Over the course of this Parliament, the Bills contained in successive Queen’s Speeches have done little to address the plight of those who struggle the most. This, the final Queen’s Speech before the election, is yet another missed opportunity to assist those in greatest need in society. When we look at the problems that working people face daily and the Government’s inaction, we can only agree that we have a coalition Government in zombie mode, oblivious to reality. Government Members may boast about the number of new jobs being created in the private sector, but that hardly compensates for the many thousands of jobs lost in the public sector due to Government cuts. Private sector job creation is welcome, but many of those jobs are insecure, being low-paid, part-time, casual or on zero-hours contracts, where people continue to live day to day.

The official unemployment count might be reducing, but the cost to the public purse of in-work benefits is increasing—hardly the high-value wage economy that is needed to guarantee the country’s long-term sustainable recovery and hardly a successful economic plan. The Government have cast aside ordinary working people and are on the side of exploitative employers, who cheer from the sidelines as reports such as Beecroft’s try to strip back employment rights, the minimum wage and safety at work. The Government are trying to line the pockets of the richest, in the hope that some of the crumbs will fall from the table. I am aware that we are very short of time, so on that point I will sit down.